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Trading The Next Leg Down
By: Scott Johnson   Thursday, November 20, 2008 11:49 AM
Symbols: CHA, CHL, EFD, F, FDRY, GM, GMCR, MANT, TDG

MA looks like it has ample room to fall, and was lower on increasing volume yesterday.



- DAI: People are realizing the crisis for automobile manufacturers extends way beyond Ford and GM.



- TM: Ditto.



- GMCR went into its earnings report with massive short interest. Earnings happened to coincide with Thursday huge rally. I think we go lower from here.



- FDRY had a big drop after October earnings, and has retraced to resistance on lower volume.



- MANT: I am looking for a breakdown out of this triangle.



- CHA is has a fairly clean trendline, is just below the declining 50 day moving average, and has bearish volume patterns.



- CHL looks a lot like CHA.


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